The stock market on Monday admitted the Bulls occasioned by gain in the share price of BUA Cement by 5.08%. The All Share Index appreciated by 0.89% to settle at 38,722.87 points from the previous close of 38,382.39 points.
Investors gained N178 billion as the Market Capitalisation grew by 0.89% to N20.260 trillion from the previous close of N20.082 trillion.
An aggregate of 277.2 million units of shares were traded in 4,299 deals, valued at N3.053 billion.
The Market Breadth closed positive as 26 equities emerged as gainers against 8 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8.15 from N8.05. It is trading 22.38% away from its 52 weeks high of N10.5, hence there is uptrend potential in Access Bank. With the book value of N19.12, Access Bank is considered cheap at the current share price. A position in Access Bank has an upside potential of 22.38%.
- FBN Holdings dropped to N7.25 from N7.3. It is trading 19.44% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of the big elephant. Considering its book value of N19.84, relative to the current share price, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank’s traded flat at N22.5. It is trading 21.05% away from its 52 weeks high of N28.5. There is uptrend potential of 21.05% in the share price of Zenith Bank. With the book value of N35.59 relative to the current share price, Zenith Bank is considered cheap.
- UBA grew to N6.9 from N6.8. It is trading 29.59% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank traded flat at N31. It is trading 19.38% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- WAPCO traded flat at N22.6. It is trading 28.25% away from its 52 weeks high of N31.5. There is uptrend potential in the share price of Wapco as records have it that it has touched N52 some years back.
Percentage Gainers
Stanbic IBTC and Julius Berger led other gainers with 10% growth to close at N44 and N18.70 respectively.
UACN and John Holt among other gainers also grew their share prices by 6.67% and 6.52% respectively.
Percentage losers
Champion Breweries led other price decliners as it sheds 8.20% of its share price to close at N2.24 from the previous close of N2.44.
Jaiz Bank and Japaul Gold among other price decliners also shed their share prices by 4.48% and 4.08% respectively.
Volume Drivers
- Union Bank traded about 79.89 million units of its shares in 49 deals, valued at N423.4 million.
- Guaranty Trust Bank traded about 36 million units of its shares in 551 deals, valued at N1.12 billion.
- FBN Holdings Plc traded about 33.3 million units of its shares in 204 deals, valued at N242.46 million.